A trio of British industrial titans are pushing for a management overhaul at Sheffield Forgemasters, a private manufacturer which has a vital role in the UK's nuclear submarine programme. Sky News has learnt that BAE Systems (LSE: BA.L - news) , Babcock International (LSE: BAB.L - news) and Rolls-Royce Holdings are engineering the search for a successor to Graham Honeyman, Forgemasters' chief executive and majority shareholder. A number of candidates, including at least one former BAE Systems executive, are understood to have been identified for the role.

Germany's Rheinmetall said on Thursday it expects success in Australia with different vehicle types after beating BAE Systems to a $2.5 billion order for armoured reconnaissance vehicles. The company, ...

Germany's Rheinmetall (RHMG.DE) beat BAE Systems (BAES.L) to a $2.5 billion (1.79 billion pounds) Australian order for armoured reconnaissance vehicles, which comes on top of an existing major contract with the country for utility vehicles. The Australian defence ministry will now enter exclusive final negotiations with Rheinmetall, the company said in a statement on Wednesday. If the contract is finalised, the 211 Boxer vehicles will be built by Australian workers, using Australian steel and will create up to 1,450 jobs, Prime Minister Malcolm Turnbull and the defence ministry said in a separate statement.

Germany's Rheinmetall beat BAE Systems to a $2.5 billion Australian order for armoured reconnaissance vehicles, which comes on top of an existing major contract with the country for utility vehicles. The ...

The chief executive of Crossrail is to join BAE Systems (LSE: BA.L - news) later this year, returning the former British Army officer to the defence sector after an absence of more than three decades. Sky News has learnt that Andrew Wolstenholme will oversee the maritime and land divisions at the UK's biggest defence contractor, where he will have responsibility for the company's flagship submarine and naval ships programmes. Crossrail announced last week that Mr Wolstenholme was leaving to take up an undisclosed role in the private sector.

Saudi Arabia and the British government reached a preliminary agreement on a long-stalled deal for 48 Eurofighter Typhoon combat jets, boosting the prospects for BAE Systems PLC, Europe’s largest weapons ...

Saudi Arabia has signed a preliminary deal to buy 48 Typhoon fighter jets from the UK. The jets, made by British company BAE Systems (LSE: BA.L - news) , are part of a multibillion-pound deal which has been under discussion for many years. BAE confirmed the news in a statement, saying: "This is a positive step towards agreeing a contract for our valued partner.

LONDON/RIYADH, March 9 (Reuters) - Britain and Saudi Arabia took a step closer to a multi-billion- pound arms deal on Friday, touching on the most inflammatory element of their relationship at the end of an official visit to London that has mixed warm diplomacy with angry street protests. Saudi Crown Prince Mohammed bin Salman has been in the British capital for three days on a mission to build broader trade and investment ties, meeting Queen Elizabeth, Prime Minister Theresa May, key ministers and executives.

Saudi Arabia has signed a preliminary deal to buy 48 Typhoon fighter jets from the UK. The jets are made by British firm BAE Systems (LSE: BA.L - news) , as part of a multi-billion pound deal which has been under discussion for many years. BAE confirmed the news in a statement, saying: "This is a positive step towards agreeing a contract for our valued partner.

Britain agreed on Friday to finalise talks with Saudi Arabia on a multi-billion pound order for 48 Typhoon aircraft, the fighter plane's maker BAE Systems (BAES.L) said. BAE, Europe's biggest defence contractor, has long awaited a major Saudi order for Typhoons, and slowed production in 2016 to ensure it would remain competitive. The memorandum of intent was signed after Saudi Crown Prince Mohammed bin Salman met with British defence minister Gavin Williamson.

Saudi Crown Prince Mohammed bin Salman's visit to London will turn to defence and security on Friday as he meets British defence minister Gavin Williamson, touching on the most contentious element of his trip: arms sales. Britain and Saudi Arabia have set themselves a 65 billion pound trade and investment target for the coming years, with London looking for new post-Brexit markets for its services sector, and Prince Mohammed seeking to convince wary investors his country is a tolerant and modernising place. Britain credits Saudi intelligence sharing with saving British lives and has licensed billions of pounds of weapons and ammunition sales to Saudi Arabia.

Malaysia, the world's No.2 producer of palm oil, said on Thursday the European Union's decision to curb imports of the commodity could undermine France's hopes of winning one of Asia's biggest fighter plane deals. France's Rafale jet, built by Dassault Aviation (LSE: 0IAX.L - news) , has been seen as the frontrunner in Malaysia's plan to buy up to 18 planes in a deal potentially worth more than $2 billion.

Dassault Aviation, one of France's leading military and civilian jet makers, voiced concerns over the impact of Brexit on Thursday, as it reported higher 2017 profits. Dassault Aviation's head Eric Trappier told reporters that uncertainty over British defence spending and the Brexit process could impact French and British co-operation on joint military projects. In 2016, France and Britain agreed to invest 2 billion euros ($2.5 billion) to help build a new drone, and in January this year the two countries also unveiled further joint initiatives in security and military spheres.

The German unit of European missiles maker MBDA and U.S. arms company Lockheed Martin Corp have formed a joint venture to press ahead with a new air and missile defence system being negotiated with the German military, they said on Thursday. The 60-40 MBDA-led venture will serve as prime contractor for the new multibillion-dollar TLVS system, which the two companies have been negotiating to get under contract with the German defence ministry since 2015. It is aimed at replacing the Patriot air defense system fielded in the 1980s.

The Pentagon estimates it will cost nearly $16 billion to modernize the fleet of F-35 jets through 2024, a U.S. lawmaker said on Wednesday, citing information provided by the Pentagon on the stealth fighter jet program. The F-35, which is made by Lockheed Martin Corp, has been in production since 2006 and modernization expenses were expected. The F-35 has been widely criticized for being too expensive, including by President Donald Trump and other U.S. officials, who have also pointed to numerous production delays and cost overruns.

Prime Minister Theresa May defended Britain's links to defence and security ally Saudi Arabia on Wednesday, as Saudi Crown Prince Mohammed bin Salman met Britain's Queen Elizabeth for lunch at the start of a high profile visit to London. A fiery exchange in parliament between May and opposition Labour Party leader Jeremy Corbyn underlined tension in Britain over Prince Mohammed's trip, which is aimed at building a broader economic partnership between the two countries, but has sparked protests about human rights and war in Yemen.

Vienna prosecutors are broadening their probe into a $2 billion Eurofighter jet purchase by Austria and are investigating former defence minister Norbert Darabos for breach of trust, a spokeswoman said on Monday. The prosecutors launched investigations against Airbus and the Eurofighter consortium in February 2017 after the defence ministry said it believed they had misled Austria about the price, deliverability and equipment of the 2003 deal. The consortium and Enders have denied the accusations.

A round-up of notable broker activity this morning from Europe's top-ranked* analysts: ** Canaccord Genuity says Moneysupermarket.com to take a hit of 8 pct in EPS from a step-up in costs to improve site ...